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HSA, Good For You And Your Participants

PPACA Good News: HSAs Virtually Untouched

While the Accountable Care Act has affected virtually every facet of the healthcare system in the U.S., one benefit area has escaped virtually unscathed: HSAs.

In fact, HSA account limits were actually increased for 2013, while other account types – FSAs for example – now have reduced contribution limits. And, with the increase in the medical expense deduction threshold from 7.5% to 10%* of adjusted gross income, an HSA makes even more sense: pre-tax contribution with interest accrual vs. guessing at end-of-year IRS thresholds. It all adds up to serious peace of mind and financial benefits.

MGIS can help you administer a successful HSA plan to maximize pre-tax benefit advantages. It’s good for you and good for your participants. Here’s how the savings add up:

Participants Company
  • Pre-tax payroll contributions
  • Employer contributions are tax-free
  • Implement a high-deductible plan with
    lower premium costs
  • Tax-free growth
  • Employer FICA tax savings
  • Tax-free withdrawals for qualified
    healthcare expenses
  • Employer contributions deductible as
    a business expense
Download our flyer answering 10 frequently asked questions about HSAs   Cover HSA basics with your clients.

Download our useful flyer that answers
10 frequently asked questions about HSAs.

MGIS has partnered with Bank of America to offer a feature-rich plan at reduced monthly cost. Integration with medical plan is available.

You can provide even more savings for you and your employees by taking advantage of other plans that can be offered in conjunction with an HSA plan. One or all can be implemented at the same time:

  • Limited Purpose FSA plan: Limits expenses to Dental, Vision and Preventative Care so employees can access additional pre-tax dollars without having to dip into their HSA contributions.
  • Dependent Care: Employees can enroll in a dependent care plan to increase their pre-tax benefits for eligible day care expenses.
  • Commuter Benefits: Transportation or Parking plans can be established to set aside pre-tax dollars for eligible commuting and parking costs that are work related.

This is a great time to move ahead with CDH benefit plans. Please contact us today for details.

Best Regards,

Noelle Lundberg
CDH- Senior Sales Executive
Medical Group Insurance Services, Inc.

*individuals age 65 and older who may continue to use the 7.5% rule through 2016

the mgis companies. Insurance Physicians Expert